We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
TSXV:DEQ | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
LAS VEGAS, NV and LEVIS, QC, March 29, 2016 /CNW Telbec/ - DEQ Systems Corp. (TSXV: DEQ) ("DEQ" or the "Company") announced today the filing of its annual financial results for the fiscal year ended November 30, 2015. The Consolidated Financial Statements are available on SEDAR (www.sedar.com) and DEQ's website and should be read in conjunction with this press release. A conference call will be held on Thursday, March 31, 2016 at 8:30am EDT to present and discuss these results. Those interested in participating should dial toll free 1 (877) 223-4471 or (647) 788-4922. Please note that the conference call replay will be available until April 14, 2016 by dialing 1 (416) 621-4642 or 1 (800) 585-8367. The conference ID # for the replay is 76163886.
2015 ANNUAL RESULTS AND FOURTH QUARTER SUMMARY:
Financial Metrics
"The milestones that we have achieved during this transformational year were significant and necessary. Our recurring revenue model allows us to make this transformation with our eye towards the long term. When evaluated on a year over year basis, and factoring out non-routine / non-recurring charges, and currency translation, our performance showed growth and continues our positive year over year trend. The costs associated with our efforts to right size the business have been significant, but lay the foundation for a healthy company going forward. Through all of this change we focused on growing top line revenues and our installed base as well as increasing our cash position. We focused on growing our product offerings and added new PTG content and released our upgraded progressive platform, PRSM. We set out to build a better more robust company and have done so with core staff and products," stated Joe Bertolone, President and Chief Executive Officer of DEQ.
EBITDA and Adjusted EBITDA* |
|||||||
Fourth Quarter |
Twelve-Month Period | ||||||
November 30, 2015 |
November 30, 2014 |
November 30, 2015 |
November 30, 2014 | ||||
(unaudited) |
(unaudited) |
(audited) |
(audited) | ||||
Net Income (Loss) |
(1,514,000) |
(583,000) |
(2,656,000) |
(1,901,000) | |||
Add/(Subtract): |
|||||||
Interest Expense (Revenue) |
1,000 |
2,000 |
5,000 |
9,000 | |||
Foreign Exchange Loss (Gain) |
463,000 |
16,000 |
433,000 |
157,000 | |||
Depreciation & Amortization |
198,000 |
712,000 |
1,983,000 |
2,723,000 | |||
Stock-Based Compensation |
7,000 |
1,000 |
87,000 |
20,000 | |||
EBITDA* |
(845,000) |
148,000 |
(148,000) |
1,008,000 | |||
Non-routine / Non-recurring items |
972,000 |
73,000 |
1,577,000 |
100,000 | |||
Adjusted EBITDA* |
127,000 |
221,000 |
1,429,000 |
1,108,000 |
*Note: |
DEQ uses an adjusted calculation of EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization and stock based compensation and foreign exchange impact), a non-IFRS measure, to evaluate the Company's operating performance. Securities regulators require that issuers caution readers that measures adjusted to a basis other than IFRS do not have standardized meaning under IFRS and are unlikely to be comparable to similar measures used by other companies. Adjusted EBITDA means EBITDA before any non-routine / non-recurring items. |
Mr. Bertolone further stated, "DEQ's hard work and positioning efforts during 2015 will allow 2016 to be a basis year for growth. We estimate that revenues will grow in a range commensurate with prior year performance on an annualized year over year basis. As our cost normalize, our work positioning DEQ for future growth will begin to pay off in the second half of 2016."
Statement of Earnings |
|||||||
Fourth Quarter |
Twelve-Month Period | ||||||
November 30, 2015 |
November 30, 2014 |
November 30, 2015 |
November 30, 2014 | ||||
(unaudited) |
(unaudited) |
(audited) |
(audited) | ||||
Table Systems |
1,537,000 |
1,320,000 |
5,899,000 |
5,210,000 | |||
Proprietary Table Games |
803,000 |
593,000 |
2,751,000 |
2,228,000 | |||
Total recurring revenue |
2,340,000 |
1,913,000 |
8,650,000 |
7,438,000 | |||
Non recurring revenue |
10,000 |
14,000 |
432,000 |
102,000 | |||
Total Revenue |
2,350,000 |
1,927,000 |
9,082,000 |
7,540,000 | |||
Gross Profit |
1,830,000 |
1,749,000 |
7,510,000 |
6,386,000 | |||
% Gross margin |
78% |
91% |
83% |
85% | |||
Operating & Administrative expenses |
2,512,000 |
2,079,000 |
8,475,000 |
7,227,000 | |||
Research & Development expenses |
368,000 |
234,000 |
1,253,000 |
894,000 | |||
Operating Income (Loss) |
(1,050,000) |
(564,000) |
(2,218,000) |
(1,735,000) | |||
Foreign exchange & other expenses |
464,000 |
19,000 |
438,000 |
166,000 | |||
Net Income (Loss) |
(1,514,000) |
(583,000) |
(2,656,000) |
(1,901,000) | |||
Net Income (Loss) per share |
$(0.021) |
$(0.009) |
$(0.037) |
$(0.027) | |||
Financial Position |
|||
Nov. 30, 2015 |
Nov. 30, 2014 | ||
(audited) |
(audited) | ||
Cash and cash equivalents |
2,550,000 |
1,654,000 | |
Current assets (other than cash) |
1,716,000 |
1,571,000 | |
Long-term assets |
3,302,000 |
5,479,000 | |
Total Assets |
$7,568,000 |
$8,704,000 | |
Current liabilities |
2,001,000 |
1,274,000 | |
Shareholders' equity |
5,567,000 |
7,430,000 | |
Total Liabilities and Equity |
$7,568,000 |
$8,704,000 | |
Number of shares outstanding |
71,682,000 |
71,682,000 |
ABOUT DEQ
DEQ Systems Corp. (TSXV: DEQ) is one of the market leaders in Table Game Systems, Proprietary Table Games, and Utility solutions. DEQ's systems and games are installed in over 300 casinos, in 30 countries around the world. The combination of our services, industry leading products and revenue generation capabilities make DEQ a leader for innovation in the table game bonusing segment of the global gaming market. For further information, please visit www.deq.com.
####
TSX Venture does not accept any responsibility regarding the accuracy of the information contained in this press release.
Forward-looking statements contained in this Press Release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
SOURCE DEQ SYSTEMS CORP.
Copyright 2016 Canada NewsWire
1 Year DEQ Systems Corp. Chart |
1 Month DEQ Systems Corp. Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions